Negative Money Has No Positive Value
Created on: May 18th, 2007
Lets keep the political discussion out of this I just found that to be a damn big number.
Lets just say that all the money is price we pay for forgetting poland
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1. It is (or was) assumed by the Reagan administration that a sizeable debt can be maintained in a free-market economy. That was how Ronald was able to defeat the Russians, he simply outspent them. 2. Jorge Bush did increase the debt by another 3 trillion (minimum) in his efforts to fight Islamic terrorists. It is (or was) the belief by the Bush administration that the tax level was beyond the vertex of the parabolic curve of revenue returns, and therefore can be cut back to increase revenue.
Whether or not he was right remains to be seen. Nonetheless, fiscal conservatism is not found in the liberal Democratic wings of power, nor does it seem to be found under the Republican banner either. At any rate, the national debt can be paid off in 20 years by simply keeping a balanced budget. The sooner that debt is gone, the more money we can throw around at other problems and not paying it into interest. (DUH!)
Fighting broke out between rival Islamic factions in Canada last month, and new news is no longer postmodern enough to garner my vag. Hydrostatic depth charge fuse? We'll do it monthly. We'll do it manually. Your boat is sinking and your storm is blowing. ALL WE ARE is DUUUUST in the WIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIND.
Aoccdrnig to a rscheearch at an Elingsh uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht frist and lsat ltteer is at the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae we do not raed ervey lteter by it slef but the wrod as a wlohe. ceehiro.
lol go learn sum economics. The US economy is still growing at a steady rate, it is still the largest economy in the world (as big as the euro union combined), and has a very high per capita income. High human capital/education, large stocks of capital + massive natural resources = a 1337 U.S economy for a long time. btw im not american. it will be 100 years at least till china can even think of catching up ^__^
F*gsrus, you are a f*cking idiot. Our economy is f*cked, if you knew the first f*cking thing about the US economy you wouldn't have even tried to post a comment on this. Go learn what the petro dollar exchange is, go learn why we actually invaded iraq, go learn what the Federal Reserve Act is, go see the movie America: Freedom to Fascism and shut the f*ck up, idiot
We had all sorts of reasons to invade Iraq. The oil was just one reason. But keep in mind, we haven't touched a barrel of it since we've occupied it. We just want to be able to buy it. Our economy is strong at present, but we have a lot to worry about on the horizon. I think the time for panicking is still a ways away, but we do need to do a bit of bookkeeping and house cleaning.
as a percentage of GDP, the debt is about 65% which is lower than every industrialized nation except Australia. We owe the most money to Japan, which what a debt-to-GDP of over 120% !! They owe 20% more than what they earn and there are no poor people in Japan. National Debt is a totally overblown issue which hardly anybody understands anyway!
On June 5, 1933, Congress enacted HJR-192 to suspend the gold standard and to abrogate the gold clause. This resolution declared that "Whereas the holding or dealing in gold affect the public interest, and are therefore subject to proper regulation and restriction; and whereas the existing emergency has disclosed that provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency. . . are inconsistent with the
declared policy of congress. . . in the payment of debts. This resolution declared that any obligation requiring "payment in gold or a particular kind of coin or currency, or in an amount in money policy; and . . . Every obligation heretofore or hereafter incurred, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts."
A farm control bill around the same time period had attached to it a clause making Federal Reserve notes legal tender. In 1937, the Supreme Court struck down the Farm Control Act, thus carrying with it the legal tender status of Federal Reserve notes. Prior to 1933, Federal Reserve notes were used for inter-bank transfers. Around 1945, Congress passed a bill which called for the withdrawl of Federal Reserve notes from public circulation; but,
but, they are still with us. . . *NOTE that the words do not talk about "payment" of debt, but clearly states that "Every Obligation . . . Shall be discharged." In the case of Stanek v. White, 172 Minn. 390, 215 H.W. 784, the court explained the legal distinction between the words "payment" and "discharge": "There is a distinction between a `debt discharged' and a `debt paid.' When discharged the debt still exists though divested of its character as a legal obligation during the operation of the discharge.
Something of the original vitality of the debt continues to exist, which may be transferred, even though the transferee takes it subject to its disability incident to the discharge. The fact that it carries something which may be a consideration for a new promise to pay, so as to make an otherwise worthless promise a legal obligation, makes it the subject of transfer by assignment."
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